Nashville Wins Top Ranking as Hottest Single-Family Housing Market

July 20, 2017

Nashville Wins Top Ranking as Hottest Single-Family Housing Market

Tennessee builders rejoice! We’ve known it for years, but now it’s official – Nashville is the place to live.
According to a recent Tennessean article, Nashville has the hottest single-family housing market in all of the United States. Based on local growth in population, wages, jobs, and overall state of the economy, Nashville snagged the No. 1 ranking. Compiled by online real estate marketplace Ten-X Research, competing cities on the list included Orlando, FL, Fort Worth, TX, and San Antonio, TX.
Even better, Nashville posted the highest score in economic prospects out of the nation’s 50 largest housing markets. Fast-growing sectors include education, health care, leisure, and entertainment. Local employment has been increasing at a rate of up to 4% year-over-year.
Though the cost of living is rising at an equally fast pace, Ten-X said buyers needn’t worry about this affecting their budgets. While Nashville has also jumped to the top of the list for the fastest rising cost of living number, the affordability of individual housing still remains favorable.
Ten-X’s Top Single-Family Housing Markets Summer 2017 report attributes this to the fact that downsize risks are moderate due to prices having fallen only slightly during the housing burst.
“Unless there’s something unforeseen that disrupts the economy like a major employer moves out, it’s really well-positioned for the next few years,” said Rick Sharga, a Ten-X executive vice president.
We always knew that Nashville was the best place in the U.S., but now the whole country knows it too.
Read the full article by Getahn Ward.